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In this revision video we review the economics of price and non-price competition in an oligopoly.
Timestamps
0:00 Introduction - What is an Oligopoly? Examples: UK coffee shops, snack foods, car insurance
2:18 Key characteristics of an oligopoly market structure
4:15 Strategic interdependence in oligopoly
5:09 Main aspects of non-collusive competition in oligopoly
6:19 Causes of price wars in oligopoly
11:00 Applying game theory to price wars and price collusion within an oligopoly
14:05 Kinked demand curve and price competition in oligopoly
17:58 Will price-cutting benefits in an oligopoly?
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